Ellis Investment Partners LLC increased its stake in shares of Schlumberger Limited. (NYSE:SLB) by 256.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,162 shares of the oil and gas company’s stock after acquiring an additional 1,555 shares during the quarter. Ellis Investment Partners LLC’s holdings in Schlumberger were worth $70,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Schlumberger by 1.0% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,410 shares of the oil and gas company’s stock worth $1,010,000 after acquiring an additional 262 shares during the period. Pendal Group Ltd increased its stake in shares of Schlumberger by 1.5% during the second quarter. Pendal Group Ltd now owns 18,636 shares of the oil and gas company’s stock worth $703,000 after acquiring an additional 269 shares during the period. Artemis Investment Management LLP boosted its holdings in Schlumberger by 4.9% during the second quarter. Artemis Investment Management LLP now owns 6,260 shares of the oil and gas company’s stock worth $248,000 after buying an additional 293 shares in the last quarter. Glassman Wealth Services boosted its holdings in Schlumberger by 6.0% during the second quarter. Glassman Wealth Services now owns 5,177 shares of the oil and gas company’s stock worth $206,000 after buying an additional 295 shares in the last quarter. Finally, Truvestments Capital LLC boosted its holdings in Schlumberger by 19.6% during the second quarter. Truvestments Capital LLC now owns 1,860 shares of the oil and gas company’s stock worth $74,000 after buying an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 76.66% of the company’s stock.
In related news, EVP Patrick Schorn sold 12,151 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $38.93, for a total transaction of $473,038.43. Following the completion of the transaction, the executive vice president now owns 130,000 shares of the company’s stock, valued at $5,060,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephanie Cox sold 24,057 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total transaction of $976,473.63. Following the transaction, the insider now directly owns 46,354 shares of the company’s stock, valued at approximately $1,881,508.86. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $8.27 billion during the quarter, compared to analyst estimates of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 earnings per share. As a group, equities analysts forecast that Schlumberger Limited. will post 1.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date of this dividend is Tuesday, September 3rd. Schlumberger’s dividend payout ratio is presently 123.46%.
A number of analysts recently commented on SLB shares. Raymond James reissued a “hold” rating on shares of Schlumberger in a report on Friday, June 21st. Citigroup decreased their price objective on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Piper Jaffray Companies set a $40.00 price objective on shares of Schlumberger and gave the stock a “buy” rating in a report on Monday, July 1st. AltaCorp Capital reissued an “outperform” rating on shares of Schlumberger in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Schlumberger from $41.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. Schlumberger has an average rating of “Buy” and an average target price of $49.39.
Schlumberger Company Profile
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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